Trump’s China-savvy spokeswoman, Hong Kong trail emergencies: 5 weekend reads you missed

Beijing is working to develop a gold-backed monetary architecture to promote the internationalisation of the yuan. According to the South China Morning Post, Hong Kong aims to become an international gold trading centre by leveraging its role as a primary market for Chinese consumers and its offshore vaulting infrastructure. As a tax-free port with high purity standards, the city is considered one of the world's top gold retailing centres.

In other financial news, Techmeme reports that printed circuit board maker Suzhou Dongshan Precision Manufacturing Co. is gauging investor interest for a Hong Kong listing that could raise between $2 billion and $3 billion as early as this month. The company is currently listed in Shenzhen with a $39 billion valuation.

Additionally, the South China Morning Post reports that Samson Tam Wai-ho, honorary chairman of the Hong Kong Electronic Industries Association, stated the city needs to ease listing rules and transaction requirements to attract more angel funds. Tam noted that Hong Kong's approximately 100 active angel funds are fewer than the 400 in Shenzhen, identifying the lack of early-stage investors as a weakness in the local capital market ecosystem.

Brief written by urgent.news from Reuters Business via SCMP, Techmeme, South China Morning Post, South China Morning Post - Hong Kong, SCMP Business — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.